Fundamental Renewables, a provider of financing for solar and other renewable energy projects, secured a $400 million credit facility. Delaware Life Insurance Company, a Group 1001 company, acted as the arranger of the facility and is a lead lender.
LiveOne, a creator-first, music, entertainment and technology platform, and East West Bank, have extended LiveOne’s $7 million secured revolving credit facility until June 2024 year.
Enservco retired its $13.8 million senior revolving credit facility with East West Bank via a refinancing transaction that includes a $10 million receivables factoring line from LSQ, a $6.22 million master equipment lease from Utica Leaseco and the issue of a $1.2 million convertible subordinated note to Cross River Partners.
NewAge entered into a $12 million revolving line of credit agreement with East West Bank that will mature in March 2024. NewAge used this facility to repay in full its existing outstanding loan balance of $10.6 million under its 8% senior secured note with JGB Management.
Drip Capital, a digital cross-border trade finance platform for small and medium businesses, raised $175 million in fresh capital to power its next phase of growth. The funds include $135 million in warehouse debt facilities from Barclays Investment Bank and East West Bank.
SageSure secured $125 million in bank financing. The syndicated facility is led by Citizens is leading the syndicated facility with ING Group, BMO Harris and East West Bank serving as joint lead arrangers.
Pasadena Private Finance closed on a $30 million senior credit facility with East West Bank. The facility has a maturity of three years, is priced at LIBOR/SOFR plus 3.25% and allows for up to a 65% advance rate on Pasadena Private Finance’s loan portfolio.
Star Mountain Capital closed a $225 million asset-based leverage facility led by ING Capital. The lending group consists of ING, CIT, TIAA Bank, Axos Bank, East West Bank, Georgia Banking Company and Customers Bank.
Journey Medical, a partner company of Fortress Biotech, entered into an agreement with East West Bank in which EWB will provide a $7.5 million working capital line of credit.
Drip Capital, a fintech provider of cross-border trade finance, and East West Bank closed a $40 million committed credit facility for the expansion of Drip’s trade finance solutions to small and medium-sized businesses.